Manufacturing PMI expands in June

Philippine factory activity in June expanded at its fastest pace in two months as production rebounded and new orders rose, S&P Global said.

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The S&P Global Philippines Manufacturing Purchasing Managers' Index (PMI) improved to 50.7 in June from 50.1 in May.

June also marked the third consecutive expansion since the 49.4 reading in March.

A PMI reading above 50 denotes better operating conditions than in the preceding month, while a reading below 50 shows deterioration.

"The overall performance of the Filipino manufacturing sector remained relatively subdued as the first half of the year concluded," Maryam Baluch, economist at S&P Global Market Intelligence said.

"However, while new orders continue to rise, they do so at a historically muted pace, weighed down by a stalled exports picture," she added.

Uncertainty over the Trump administration's tariff policy has weighed on the Philippines and other Southeast Asian countries, which are reliant on exports to the US market.